Emerging-Market Currencies Hit Highest Since May on US CPI Data
- Latin American FX under pressure as yen soars as much as 2.6%
- Core US inflation rises at slowest pace since August 2021
This article is for subscribers only.
Emerging-market currencies jumped to their highest since May after US consumer prices unexpectedly fell in June, cementing bets that the Federal Reserve will cut interest rates soon.
The South African rand and the Korean won led the developing-world currency index 0.2% higher as the greenback weakened. The broad equity index closed to the highest level in two years, with the two largest US-listed exchange-traded funds that track it up for the session.